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"It's a tremendous honor to be the first band to receive the MusiCares Person of the Year award," Mick Fleetwood wrote in a statement. "Independently and together, we all set off on a journey to spend our lives as artists, songwriters and musicians. None of us did it alone and there were plenty of helping hands along the way, so we applaud and celebrate MusiCares' guiding principles of giving musicians a helping hand and a place to turn in times of need."

Taking place on January 26th, the band's most classic line-up — Fleetwood, Stevie Nicks, Lindsey Buckingham, Christine McVie and John McVie — will perform together at the show. John Legend, OneRepublic and Keith Urban have also been announced as artists honoring the group with covers of classic songs off albums like Rumours, Fleetwood Mac, Tusk and Tango in the Night.

Proceeds from this benefit gala will provide financial and medical support as well as other personal needs to musicians. Ticket packages range from $17,500 to $75,000 and include multiple seats, gifts and more. Individual seats range in price from $1,750 to $8,500.